The other day I read an amazing article in the Chronicle of Philanthropy by Holly Hall. Her article broke down the results from a recent survey done by U.S. Bank, that interviewed seven hundred millionaires and billionaires. The results were shocking and wonderful.
The big shocker was that giving money away to good causes is the most satisfying part of life, for at least half of America’s millionaires and billionaires. It seems that philanthropy ranked as more important than possessions and lifestyle. Wait, this gets even better, the youngest in this category (18-32) ranked philanthropy as the number one thing they most enjoyed. More than half of these young donors said that they learned the value of giving from their families.
The reasons these wealthy donors give does not appear to be any different from any other donor.
- About 80 percent cited “creating a positive impact on issues or causes while still alive.”
- About 76 percent said “supporting charities has a positive impact on society.”
- About 54 percent listed “setting an example for family members.”
- About 25 percent cited “the ability to define their legacy.”
The reason I loved this survey so much is that it goes against what the media continues to portray about wealth to our youth. Our teenagers watch the Kardashians and NBA players driving Bentleys and want to be like these stars. When the reality is these young donors are getting more pleasure from sharing than from anything else. Who knew?
It seems that sharing and giving makes us all feel good, rich or poor.
Charity Matters.
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